Eric Katz's Avatar
Eric Katz
published in Blogs
Feb 15, 2021
Introducing Cryptocurrency ATMs

Introducing Cryptocurrency ATMs

Introducing Cryptocurrency ATMs

Counterintuitive as they may seem, crypto-ATMs are a real thing – and their numbers are growing around the world. North America has long been ground zero for the machines; it is home to 76% of the world’s cryptocurrency ATMs, with Canada hosting the first in 2013 and the United States housing over 1,500. Until now, most crypto ATMs allowed customers to purchase only Bitcoin, and there was no ability to sell coins. ATM manufacturers like Genesis Coin, CoinFlip, and General Bytes are looking to bring a variety of cryptocurrencies, as well as the ability to sell them, to the masses.

What is a Cryptocurrency ATM?

Cryptocurrency ATM is somewhat of a misnomer – the devices are actually internet-connected terminals that allow users to perform bitcoin-related transactions, as well as redeem bitcoin for cash. Another key difference from traditional ATMs is that they connect users to a cryptocurrency exchange, rather than a bank account. The goal is to facilitate easy trading access for on-the-go crypto holders, as well as providing a measure of liquidity to users.

Crypto ATMs make money by charging transaction rates – a company like CoinFlip charges 6.9% above prominent exchange Coinbase’s rate for buys, and 3.5% below that rate for sales. The average buy rate hovers around 8.8%. While these rates are higher than using a traditional exchange, crypto ATMs allow for instant transactions in cash; most exchanges have significant wait times to complete transactions.

 

 

The Future of Crypto ATMs

CoinFlip, founded in late 2015, is a cryptocurrency ATM manufacturer and distributor focused on, in the words of COO Benjamin Weiss, “[bringing] a physical aspect to something that is very abstract to people.” The company offers two unique features that might point a direction for the future of crypto ATMs: an option not just to buy but also to sell coins, and the ability to transact Ethereum and Litecoin in addition to Bitcoin.

CoinFlip has experienced rapid growth since 2016, and it is not coming from a single demographic. Weiss told Cryptoscoop, “…[our average user] is all over the map…from people who don’t have bank accounts and are using Bitcoin as their primary bank account, to people who are sending remittances to Mexico and other countries – because it is cheaper than traditional wire transfer services – to high net-worth individuals who don’t want to buy Bitcoin from their computers and would rather just get it easily with cash by going to an ATM.”

The variety of CoinFlip use cases illustrates a potentially bright future for cryptocurrency, with mainstream adoption perhaps not too far off. Increased access to digital currencies to help meet increased demand may help companies like CoinFlip realize their ultimate goal: a crypto ATM on every corner.

Are you an active cryptocurrency investor and/or trader? Tickeron has developed Artificial Intelligence that is trained to identify technical trading patterns in cryptocurrency markets. Tickeron’s AI recently predicted a bitcoin crash when the cryptocurrency fell from over $11,000 to just under $6,000. Learn more about how algorithms can help you navigate the cryptocurrency market on tickeron.com.

Related Tickers: BTC.X
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Mar 07, 2021
4 Tricks Hedge Funds Use to Get Ahead

4 Tricks Hedge Funds Use to Get Ahead

If the stock market were Major League Baseball, hedge funds and institutional investors would be the pros on championship teams while everyday self-directed investors (SDIs) are the benchwarmers in the minors.It’s how they get ahead, and it’s why 90% of SDIs lose money trying to play (invest and trade) in the major leagues. The 4 tricks we discuss below are rooted in one common theme: they all use Artificial Intelligence and algorithms to generate data and ideas.
John Jacques's Avatar
John Jacques
published in Blogs
Mar 22, 2018
A.I. Stock Market Predictions: Head & Shoulders

A.I. Stock Market Predictions: Head & Shoulders

Statistics for the Head-and-Shoulders Bottom Pattern The days where only hedge funds used algorithms to trade stocks are officially over. Now retail investors can use Artificial Intelligence (A.I.  Here’s an example of the algorithm in action: Late last year, Tickeron’s A.I.
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Jul 10, 2020
3 Stocks to Buy if Coronavirus Second Wave Hits

3 Stocks to Buy if Coronavirus Second Wave Hits

By analyzing market trends from the first wave, you can predict behavior for the second. Technology stocks have performed at historic levels this year, but the market is severely overbought.To compensate for that, look at performance during Q1 and Q2, the height of global Covid shutdowns.
Edward Flores's Avatar
Edward Flores
published in Blogs
Feb 06, 2021
How to Become the Millionaire Next Door

How to Become the Millionaire Next Door

The Golden Gate Bridge is always a fixture of these walks too, one of man's most beautiful creations.  As we were walking, at one point she turned to me and said, "Man, I'll never have a million dollars."" My girlfriend is 27 years old and works as a graphic designer, making about $75,000 a year.
Alla Petriaieva's Avatar
Alla Petriaieva
published in Blogs
Feb 23, 2021
Is Ethereum’s Bomb about to Explode?

Is Ethereum’s Bomb about to Explode?

Ethereum’s software is set for an update in October.Until it is finished, participants in the Ethereum blockchain must determine how to delay the difficulty bomb – code that necessitates a steadily increasing amount of computer power to mine blocks and unlock rewards – that is already in place.
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Aug 07, 2018
When Is the Next Recession Coming?

When Is the Next Recession Coming?

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Abhoy Sarkar's Avatar
Abhoy Sarkar
published in Blogs
May 22, 2020
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Rick Pendergraft
published in Blogs
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Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
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Penny stocks have long been marginalized within the professional investment community, oftentimes being painted with a broad brush of simply being “too risky.” Leonardo DiCaprio’s depiction of the penny stock peddling conman, Jordan Belfort, in the Wolf of Wall Street certainly didn’t help.Here are four reasons to start trading them now. Reason #1: Let’s State the Obvious -- Penny Stocks are Cheap A single share of Apple Inc. costs over $350.
Abhoy Sarkar's Avatar
Abhoy Sarkar
published in Blogs
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US unemployment rate jumps to 14.7%, the highest in series history

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